NBA has become the first major U.S. sports league to sign an official betting sponsor

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The NBA has become the first major U.S. sports league to sign an official betting sponsor.

On Tuesday, commissioner Adam Silver announced that the league struck a deal with MGM that will give the gaming company rights to use league highlights, names, logos and its direct data feed, as well as exclusively market itself as the official gaming partner of the NBA and WNBA.

Industry sources pegged the deal to be for three years and at least $25 million.